**ARTICLE 4: INSURANCE AND LIABILITY** 


4.1. Primary Liability and Property Damage Insurance. Lessor shall maintain in effect, at its own expense, third party Aircraft
liability insurance, passenger legal liability insurance, and property damage liability insurance during the Term in such amounts as are customary for similarly situated aircraft. Each liability policy shall be primary without right of contribution
from any other insurance that is carried by Lessee, and expressly provide that all the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a separate policy covering each insured. 


4.2. Insurance Against Physical Damage. Lessor shall maintain in effect, at its own expense, all-risk ground and flight Aircraft
hull insurance covering the Aircraft. Any such insurance shall be during the Term for an amount customary for a similar aircraft. 

 4.3. Lessee As Named Insured. All Insurance Policies carried by Lessor in accordance with this Article shall name Lessee as a named insured. 


4.4. Deductible. Any Insurance Policy carried by Lessor in accordance with this Article may be subject to a deductible amount
which is customary under policies insuring similar aircraft similarly situated. Lessor warrants and agrees that in the event of an insurable claim, Lessor will bear the costs up the deductible amount. 


4.5. Additional Insurance for Lessee. Lessee may, at its discretion, obtain additional insurance covering its operation of the
Aircraft. 

 4.6. Certificate of Insurance. Upon request, Lessor shall deliver to Lessee a certificate of insurance
evidencing the insurance required to be maintained by Lessor under this Article. 


 


BLACKSTONE DRY LEASE - PAGE 4 OF 11